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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    70 Mitchell Blvd San Rafael, CA 94903-2042

    • Commercial real estate
    • 7,620 SF
    • 0.45 lot acres
    OFF-MARKET
    Last Sale
    May 31, 2023
    $765,096
    Value Estimations
    $790,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-3848411
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Carol Ann Flint / Real Estate Agent
    • H L Commercial Real Estate / Real Estate Agency / Commercial Real Estate Agency
    • EMERGENCY RESPONSE INTERNATIONAL / Emergency Care Service
    • MEDICALCONCIERGE / Medical Clinic
    • Mcglynn Jerry / College

    Property Details for 70 Mitchell Blvd

    Year built
    1971
    Lot size
    0.45 lot acres
    Property size
    7,620 SF
    Property type
    Commercial real estate
    APN
    155-151-39
    APU
    15515139

    Description

    This exceptional 1,093 square foot executive office suite is located at 70 Mitchell Blvd, San Rafael, CA 94903. Situated on the ground floor, this multi-tenant building offers a convenient and well-maintained workspace. The suite boasts two private offices, a welcoming reception area, and a practical kitchenette, perfect for a small business or professional team. Recent upgrades include fresh paint and new carpeting throughout the suite, enhancing its modern appeal. The interior office doors feature sidelights, adding to the bright and airy atmosphere. Shared restrooms have been recently updated for the convenience of all tenants. Ample parking is available on-site with 25 spaces in total for the building. The building is conveniently located in Marin County and is zoned LI/O. Built in 1973, the 7,326 square foot building offers a blend of established character and modern amenities. High-speed internet and television services from Comcast are readily available within the building, ensuring seamless connectivity for your business operations. This is a fantastic opportunity to secure a well-appointed and conveniently located office space in a desirable Marin County location. The total building square footage is 7,326 square feet, with 1,093 square feet currently available for lease.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $825,000
      ML approach
      $740,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $865,000
      Market price range: $214k - $1.30M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    San Rafael
    County
    Marin
    State
    California
    Longitude
    -122.537
    Latitude
    38.0165
    CBSA code
    41860
    CBSA name
    SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $28,439
    $997,878
    $1,123,584
    $2,121,462
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
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      65 Mitchell Blvd

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    • Value Estimation
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      85,066 SF

      1 Las Gallinas Ave

      COMMERCIAL (GENERAL) • 85,066 SF
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      1401 Los Gamos Dr

      COMMERCIAL (GENERAL) • 32,794 SF
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      View Details
    • Value Estimation
      $5,600,000
      31,816 SF

      7 Mt Lassen Dr

      COMMERCIAL (GENERAL) • 31,816 SF
      7 Mt Lassen Dr, San Rafael, CA 94903-1148
      View Details
    • Value Estimation
      $30,685,000
      206,892 SF

      9000 Northgate Dr

      COMMERCIAL (GENERAL) • 206,892 SF
      9000 Northgate Dr, San Rafael, CA 94903-3625
      View Details
    • Value Estimation
      $8,155,000
      54,108 SF

      150 Paul Dr

      COMMERCIAL (GENERAL) • 54,108 SF
      150 Paul Dr, San Rafael, CA 94903-2008
      View Details

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    70 Mitchell Blvd
    San Rafael, CA 94903-2042
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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